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Jan 26, 2013
01/13
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sorros says that angela merkel's efforts in the intervening 14 months have probably saved the euro. he gives her a lot of credit but he still isn't high on the future of the currency. he says that while germany has done very well by the currency, brought down the prices of its goods and made its exports affordable in many more places in the world, there is still serious problems with the euro that have to be taken into account. tonight i went to a high school here in this swiss alpine town where they invited all coppers, people attending the conference and locals to come hear european finance ministers talk about the future of the euro. and it's like discussing a patient that you thought was going to die and is now merely in intensive care. nobody likes to use the word austerity. the italian finance minister calls it responsibility. the german finance minister said oh, i don't like the sound of the word austerity it sounds so harsh in eng will be. i prefer the word discipline, which probably he jokes is a good german word. and earlier this week, the head of the imf called it consoli
sorros says that angela merkel's efforts in the intervening 14 months have probably saved the euro. he gives her a lot of credit but he still isn't high on the future of the currency. he says that while germany has done very well by the currency, brought down the prices of its goods and made its exports affordable in many more places in the world, there is still serious problems with the euro that have to be taken into account. tonight i went to a high school here in this swiss alpine town...
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Jan 16, 2013
01/13
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and euro stone remains euro zone remains stable? >> absolutely .. >> rose: east asia politics, what is that. >> east asia politics. >> rose: is that indonesia? >> basically it is the entire -- you think about the pivot, one of the most important policies we put in place the last few years is largely because across the asian continent, you have countries that are increasingly integrating economically towards a very strong china, but they maintain much stronger political and security relations with the united states. >> rose: which countries are we talkable about? >> we are talking a. >> talking about japan but also talking about vietnam, korea, thailand, even myanmar. >> rose: even burma. >> even burma, yes, absolutely, you look at why are they opening up? they are opening up because they are worried about only being in the pocket of a rising china. >> rose: and all worried about that. >> india less so because. >> rose: because it thinks it is strong enough? >> it thinks it is strong enough but everyone else is. >> rose: number 8 is
and euro stone remains euro zone remains stable? >> absolutely .. >> rose: east asia politics, what is that. >> east asia politics. >> rose: is that indonesia? >> basically it is the entire -- you think about the pivot, one of the most important policies we put in place the last few years is largely because across the asian continent, you have countries that are increasingly integrating economically towards a very strong china, but they maintain much stronger...
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Jan 25, 2013
01/13
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. >> stocks rose today as the euro hit an 11-month high. investors took heart that europe's financial crisis may have eased. it is ironic as the situation improves, the real economic situation for many europeans its worst -- gets worse. the british economy shrunk more than expected. the belgian economy is just as bleak. throughout northern and southern europe, the fear is losing your job. >> the fire has been burning for three months fell, who arming the striking workers. they are the latest victims of europe's economic crisis. say goodbye to the sprawling ford factory in eastern belgium. it is shutting down. with europe in recession, they are not selling enough vehicles. >> is a disaster for the region. 11,000 jobs were lost. we hope there are other jobs. >> i am feeling very insecure. i am feeling very insecure for the future. >> insecure and angry, which is why the workers have impounded 7000 cars. it is a new bargaining chip in their negotiations. what is happening shows how the eurozone debt crisis is becoming an economic and social cr
. >> stocks rose today as the euro hit an 11-month high. investors took heart that europe's financial crisis may have eased. it is ironic as the situation improves, the real economic situation for many europeans its worst -- gets worse. the british economy shrunk more than expected. the belgian economy is just as bleak. throughout northern and southern europe, the fear is losing your job. >> the fire has been burning for three months fell, who arming the striking workers. they are...
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Jan 9, 2013
01/13
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i think they ran eight different cover stories, showing the euro either blowing up or breaking apart or bursting into flames. not going to happen. no greek exit. no anybody else exit. but the austerity that is hitting, and hitting hard, precisely because the germans are trying to create fiscal union, and ultimately more accountability for the budgets of these peripheral countries, is hurting pretty bad. europe, you're definitely going to see significant continued pain across the eurozone, but the downside is not what people thought it was. and, frankly, that's going to slow progress because the markets won't put as much pressure on the eurozone and the bonds on these countries. >> tom: let's go from europe to emerging markets. i want to present some data from the i.m.f., forecasting the advanced economies growing at 1.5%, and emerging markets at over 5%. what are emerging markets your top risk then? >> emerging markets shouldn't be treated as a single asset class. some are increasingly developing, and as a kwon conconsequence great places to be, like turkey and brazil. and they have
i think they ran eight different cover stories, showing the euro either blowing up or breaking apart or bursting into flames. not going to happen. no greek exit. no anybody else exit. but the austerity that is hitting, and hitting hard, precisely because the germans are trying to create fiscal union, and ultimately more accountability for the budgets of these peripheral countries, is hurting pretty bad. europe, you're definitely going to see significant continued pain across the eurozone, but...
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Jan 24, 2013
01/13
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you warn that, quote,"the risks of prolonged stagnation in the euro area as a whole will rise if the momentum for reform is not maintained." so the core still remains at risk, correct? >> they are at risk. there are a number of policies that have to be put in place. for the most part, they have indicated what they intend to do. they just have to do it. >> tom: are you referring to government spending cuts or or the central bank continuing with the firewall and protection. >> i was thinking about two things. the program that the b.c. b.has put in place, which has not been taken up. but if it needed to be taken up, i think it should. the other is the progress on the banking union, which is a really important thing. they have taken the first steps, jut the first steps. there is quite a way to go. >> tom: let's talk a little about the united states, because you do address the u.s., and obviously congress and the president keep putting off decisions on spending cuts for america's government budget. how does that postponement impact your forecast? >> we have assumed that basically the fisc
you warn that, quote,"the risks of prolonged stagnation in the euro area as a whole will rise if the momentum for reform is not maintained." so the core still remains at risk, correct? >> they are at risk. there are a number of policies that have to be put in place. for the most part, they have indicated what they intend to do. they just have to do it. >> tom: are you referring to government spending cuts or or the central bank continuing with the firewall and protection....
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Jan 18, 2013
01/13
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they've made more than $30 million euros after kidnapping french citizens because the french will pay for the nationals to come back. up until this point, they hadn't taken an american hostage and now they have at least three. >> so they would view perhaps mali as the next afghanistan or having the possibility of being the next afghanistan before 9/11 when in fact it was a haven for al qaeda. >> there are parallels there because in some ways, you know as one u.s. official said to me half jokingly it's the world's worst neighborhood. you have islamic extrialists, you have al qaeda through aqim, you have drug traffickers up there in the north of mali. and you have just rebels who want some independence to split the country in two. so in that mix you have that worry that you can create within the chaos a command and control center. like what you saw al qaeda do through the taliban in afghanistan. so that's the fear that it can become a launch pad. >> rose: on another matter finally, when dow expect the secretary of state to testify about ben gazee-- ben gaddee? >> secretary clinton will
they've made more than $30 million euros after kidnapping french citizens because the french will pay for the nationals to come back. up until this point, they hadn't taken an american hostage and now they have at least three. >> so they would view perhaps mali as the next afghanistan or having the possibility of being the next afghanistan before 9/11 when in fact it was a haven for al qaeda. >> there are parallels there because in some ways, you know as one u.s. official said to me...
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Jan 8, 2013
01/13
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unemployment across the euro- zone countries has hit another record high, 11.8%, in november. the european union reported today the jobless rate rose more than a full percentage point from a year earlier. greece had the single biggest year-to-year increase, jumping seven points to 26%. across the e.u., some 26 million people were out of work. wall street was down again today as the market marked time, waiting for corporate earnings announcements. the dow jones industrial average lost 55 points to close under 13,329. the nasdaq fell seven points to close below 3092. those are some of the day's major stories. now, back to gwen. >> ifill: we return to the u.s. consulate attack in benghazi, the only known suspect held in connection with the incident was released today in tunisia. his attorney said he was freed because of a lack of evidence. the attack, which killed u.s. ambassador to libya christopher stevens and three other americans was seen by large crowds and captured on security cameras, but the culprits have remained elusive. libyan witnesses have reportedly placed a local l
unemployment across the euro- zone countries has hit another record high, 11.8%, in november. the european union reported today the jobless rate rose more than a full percentage point from a year earlier. greece had the single biggest year-to-year increase, jumping seven points to 26%. across the e.u., some 26 million people were out of work. wall street was down again today as the market marked time, waiting for corporate earnings announcements. the dow jones industrial average lost 55 points...
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the euro probably had some. what it did with the creation of the year when the countries came in when it really came in they had before the euro. industry to run twelve percent fourteen percent that had a devaluation premium in and when they joined the or suddenly they were all the. you know four percent four percent or below and this encouraged countries now with no dead it can add more to. give the wrong message because what they should have realized is that this these debts now are so euro debt no longer drachmas are clear that it can't devalued them away you're stuck with this and maybe in retrospect it might have been wise for countries of the high debt not to lock themselves into that fixed at her to have a devaluation in inflation before but nobody wanted to do that and if they. murdered risk not being able to make that deadline of nine hundred ninety nine of getting all those countries into the euro zone and and because. you know a moment the political moment may have been missed and may not have come up
the euro probably had some. what it did with the creation of the year when the countries came in when it really came in they had before the euro. industry to run twelve percent fourteen percent that had a devaluation premium in and when they joined the or suddenly they were all the. you know four percent four percent or below and this encouraged countries now with no dead it can add more to. give the wrong message because what they should have realized is that this these debts now are so euro...
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it isn't the creation of the euro. cars the problem so much because before the euro came into being countries where they clearly had a hundred three percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine hundred forty five percent so they let there's a lack of fiscal discipline all in a movement to the left in europe big spending and on. social projects that. couldn't keep going it's no longer now europe also has a static population in some cases to declining population and so you have more. people more pensions bills to pay and fewer people to work to pay them you know that it's a pretty big problem when the shot came but when you talk about dadt i mean there are i think two points to make because first of all has always been plagued with debt. reg its budget deficit in order to qualify so maybe it's not the death but what was it maybe that hero was too good on maybe you topping for europe then they probably had some. what it did with the creation of the year wh
it isn't the creation of the euro. cars the problem so much because before the euro came into being countries where they clearly had a hundred three percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine hundred forty five percent so they let there's a lack of fiscal discipline all in a movement to the left in europe big spending and on. social projects that. couldn't keep going it's no longer now europe also has a static population in...
WHUT (Howard University Television)
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Jan 28, 2013
01/13
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we need firm rules for who can be in the euro and who can be out of the euro and what conditions they have to meet to make those transitions. and we need some sort of fiscal architecture to protect the euro against these enormous issuances of unsustainable debt. >> unfortunately, since that feels quite far away from where we're standing right now, we must contemplate the worst case scenario, which would be one country leaving the euro followed by several others. a complete collapse of confidence in the european project and the eurozone project, losing several banks, people on the streets, riots. (singing) (instrumental music) >> the u.s. treasury secretary tim geithner, concerned about the eurozone crisis, sought a meeting with the german finance minister wolfgang schauble on his holiday. in a statement, they said there was a need for global cooperation to resolve debt problems. >> as the european union's greatest ally and trading partner, what can the u.s. do to prevent a break up? >> well the eurozone is of course america's leading trade partner. and as a consequence, if the eurozon
we need firm rules for who can be in the euro and who can be out of the euro and what conditions they have to meet to make those transitions. and we need some sort of fiscal architecture to protect the euro against these enormous issuances of unsustainable debt. >> unfortunately, since that feels quite far away from where we're standing right now, we must contemplate the worst case scenario, which would be one country leaving the euro followed by several others. a complete collapse of...
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Jan 8, 2013
01/13
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he made over 200 million euros. now, many of his fellow greeks are looking to follow in his footsteps, and he can see why -- not only does he love the beautiful swiss countryside and the country's efficiency, he also appreciates its low rate of taxation. >> it is not illegal, but morally unacceptable that in some comfort -- countries, you have to pay 50% tax. anybody who wants to have a good quality life -- i find it proper no more. it has to do with tax. >> tax regulation is especially business friendly, which is why thousands of businesses are headquartered, at least on paper, here. a growing number of greek businesses are here as well. christoph knows why. he has just helped a company set up business. in switzerland, the corporate tax rate is just 5%, compared to 20% in greece. he shows colleagues how he said it up. tax breaks are one of several factors that make switzerland highly attractive to businesses. >> if you base your business here, you are in good company, international company. there is a host of inter
he made over 200 million euros. now, many of his fellow greeks are looking to follow in his footsteps, and he can see why -- not only does he love the beautiful swiss countryside and the country's efficiency, he also appreciates its low rate of taxation. >> it is not illegal, but morally unacceptable that in some comfort -- countries, you have to pay 50% tax. anybody who wants to have a good quality life -- i find it proper no more. it has to do with tax. >> tax regulation is...
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Jan 18, 2013
01/13
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to 12 billion euros. the reasons -- poor planning and construction errors. in addition, the company faces corruption allegations in kazakhstan. in germany, the company had to pay a 103-million-you're a fine in a price-fixing scandal. a real operator is considering a lawsuit. -- the company had to pay a 103- million-euro fine. as negotiations with deutsche bank continue, there still a lot of work to do to get things back on track. >> a real-life tragedy has taken center stage at russia's prestigious bolshoi ballet. the director was the victim of an acid attack outside his home late on thursday. >> the 42-year-old suffered serious injury to his face, and doctors are fighting to save his eyesight. the head of the bolshoi theater says he believes the attack was a product of a and b -- of envy. it highlights a long history of power struggles at the ballet. >> this is the only lead. in the cover of darkness, a masked assailant attacked and escaped. >> if thing like this has never happened before, so we at the m
to 12 billion euros. the reasons -- poor planning and construction errors. in addition, the company faces corruption allegations in kazakhstan. in germany, the company had to pay a 103-million-you're a fine in a price-fixing scandal. a real operator is considering a lawsuit. -- the company had to pay a 103- million-euro fine. as negotiations with deutsche bank continue, there still a lot of work to do to get things back on track. >> a real-life tragedy has taken center stage at russia's...
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that's interesting let's talk more about that how do you see attempts to save the euro folding out so many people have been saying this is the beginning of the end of the euro when are we going to see the end well you're right in the netherlands where i am active as a writer i've called for a referendum to be organized what we see is that there's a political elite in all of europe determined to see this through to the bitter end all major political parties support the idea of the euro whereas it's becoming more and more clear that it's not working very well so what we really need is a plan b. a backup scenario and an organized dismantlement but let's look specifically at france in terms of the euro and a possible collapse what would it mean for france's economy. well. they're basically two scenarios of dismantlement of the euro the first is disorderly doing this mentum and that would be very problematic and the other option is an orderly dismantlement and this doesn't look that bad ever been produced through reports by a prominent economists not so long ago by the wolfson prices being
that's interesting let's talk more about that how do you see attempts to save the euro folding out so many people have been saying this is the beginning of the end of the euro when are we going to see the end well you're right in the netherlands where i am active as a writer i've called for a referendum to be organized what we see is that there's a political elite in all of europe determined to see this through to the bitter end all major political parties support the idea of the euro whereas...
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Jan 11, 2013
01/13
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in demand, the euro. if the governments in tokyo actively weaken the yen and, consequently, the euro grows more expensive, then german exporters have a problem. they will lose competitiveness to those outside of the eurozone and. if we take into account the strong trading days of the beginning of this year, the dax remains to the upside. >> we will stay for a closer look at friday's numbers. dax up a smidgen, 7715. eurostoxx50 2717. across the atlantic, the dow also trading pretty much flat at 13,478 and the euro up against the dollar trading at $1.3347. >> cuba is set to get rid of unpopular travel restriction that has been in place for the past five decades. there do to eliminate the permit known as the white card which cubans have needed in order to leave the country. >> restrictions will remain in place to avoid a brain drain. this is part of president reimold castro's attempts to gradually open up cuba -- raul castro's plan. how much of a difference will it mean for ordinary cubans? >> in some ways,
in demand, the euro. if the governments in tokyo actively weaken the yen and, consequently, the euro grows more expensive, then german exporters have a problem. they will lose competitiveness to those outside of the eurozone and. if we take into account the strong trading days of the beginning of this year, the dax remains to the upside. >> we will stay for a closer look at friday's numbers. dax up a smidgen, 7715. eurostoxx50 2717. across the atlantic, the dow also trading pretty much...
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Jan 12, 2013
01/13
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in demand, the euro. if the governments in tokyo actively weaken the yen and, consequently, the euro grows more expensive, then german exporters have a problem. they will lose competitiveness to those outside of the eurozone and. if we take into account the strong trading days of the beginning of this year, the dax remains to the upside. >> we will stay for a closer look at friday's numbers. dax up a smidgen, 7715. eurostoxx50 2717. across the atlantic, the dow also trading pretty much flat at 13,478 and the euro up against the dollar trading at $1.3347. >> cuba is set to get rid of unpopular travel restriction that has been in place for the past five decades. there do to eliminate the permit known as the white card which cubans have needed in order to leave the country. >> restrictions will remain in place to avoid a brain drain. this is part of president reimold castro's attempts to gradually open up cuba -- raul castro's plan. how much of a difference will it mean for ordinary cubans? >> in some ways,
in demand, the euro. if the governments in tokyo actively weaken the yen and, consequently, the euro grows more expensive, then german exporters have a problem. they will lose competitiveness to those outside of the eurozone and. if we take into account the strong trading days of the beginning of this year, the dax remains to the upside. >> we will stay for a closer look at friday's numbers. dax up a smidgen, 7715. eurostoxx50 2717. across the atlantic, the dow also trading pretty much...
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Jan 3, 2013
01/13
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the damages were estimated at about 38 billion euro. that met sandy accounted for about one-third of the worldwide economic damage. in 2012, a record drought hitting farms in the american midwest. they accounted for damages of more than 15 billion euro. natural disasters hit the u.s. harder than any other country in 2012. the biggest hit was from an earthquake in italy in damages exceeded 12 billion euro. devastation causing devastation and tornadoes in the u.s. left quite the cleanup bill. in human terms, the more than 1000 people who died during the typhoon in indonesia made it the worst event of 2012. >> as part of our special series on stories that will dominate the news, we'll look at sovereign debt. united states has stepped away from their fiscal cliff, but the basic problem has not gone away. >> in europe and japan also, and the immediate sense of crisis has eased on both sides of the atlantic, the long-term challenges are daunting, especially when you combine debt and an aging society. >> the united states stumbles from one edg
the damages were estimated at about 38 billion euro. that met sandy accounted for about one-third of the worldwide economic damage. in 2012, a record drought hitting farms in the american midwest. they accounted for damages of more than 15 billion euro. natural disasters hit the u.s. harder than any other country in 2012. the biggest hit was from an earthquake in italy in damages exceeded 12 billion euro. devastation causing devastation and tornadoes in the u.s. left quite the cleanup bill. in...
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france they are going to end up out of the euro there's no doubt about it u.k. should have a different relationship with it politically but thank god we're not in the euro shores so this politically do you think that relationship with the european union though should be changed or could britain be making a mistake by cutting off its ties altogether losing its membership. no the present european community structure is of elite history and has no longer taking any concern of the of the the political interests and reactions of the people surveyed up it's not just the u.k. it's the people of france is the people of poland it's the people of ireland until they were deceived it's all the peoples of europe they want a new relationship in the political structure professor thank you very much indeed thanks for joining us live there professor rodney shakespeare joining us live there in london. israel has issued two hundred tenders for new housing in the west bank a settlement watchdog group has issued a report saying the government is deliberately using construction in vi
france they are going to end up out of the euro there's no doubt about it u.k. should have a different relationship with it politically but thank god we're not in the euro shores so this politically do you think that relationship with the european union though should be changed or could britain be making a mistake by cutting off its ties altogether losing its membership. no the present european community structure is of elite history and has no longer taking any concern of the of the the...
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Jan 10, 2013
01/13
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the euro stoxx 50 managing to finish the day with very slight gains. across the atlantic at this hour, the dow doing pretty good, up by more than 1/3 of 1%. the euro also higher against the greenback, trading at this hour at a value of $1.3260. the global economic slowdown and the eurozone debt crisis have, of course, affected the auto sector. europe has seen an overall drop in the sale of cars. >> but not in all categories. german luxury brands are still doing well. bmw has released figures showing healthy profits in 2012. then the bmw is overtaking them all. almost everywhere in the world. the munich-based carmaker reported healthy sales last year, not just in china and the united states but also in europe. worldwide, some 1.5 million cars were purchased in 2012, an increase of almost 12% and a new record. vw subsidiary audi also scored a record, selling 1.4 million high-and cars and posting similar gains. mercedes sales hit a record high as well with 1.3 million cars sold around the world, up almost 5% on the previous year. mercedes, however, finds
the euro stoxx 50 managing to finish the day with very slight gains. across the atlantic at this hour, the dow doing pretty good, up by more than 1/3 of 1%. the euro also higher against the greenback, trading at this hour at a value of $1.3260. the global economic slowdown and the eurozone debt crisis have, of course, affected the auto sector. europe has seen an overall drop in the sale of cars. >> but not in all categories. german luxury brands are still doing well. bmw has released...
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Jan 21, 2013
01/13
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euro stocks similar gain finished at 2726. the euro basically steady at 133.16 against the dollar. well, while equities across europe were heading north, it was completely different from business travelers and tourists. they were not going anywhere at all. heavy snow has affected flights in europe. >> that is where our coverage starts. >> passengers in frankfurt got drinking water and chocolate bars to help them through the long wait. a 500 arrivals and departures were cancelled. the airport remains in the grip of the snowy, icy weather and many might not get out for another day. >> we have been stuck here since yesterday afternoon. first two hours on the plane. then the flight was cancelled bausts bad weather. >> more than a thousand employees spent monday freeing up the four main runways. now that planes can move again it is a matter of clearing the backlog of stranded planes as fast as possible so that there is space for new arrivals to land. >> we are hoping for a let up in the snowfall as monday progresses so that we can better deal with the air traffic and normalize the situa
euro stocks similar gain finished at 2726. the euro basically steady at 133.16 against the dollar. well, while equities across europe were heading north, it was completely different from business travelers and tourists. they were not going anywhere at all. heavy snow has affected flights in europe. >> that is where our coverage starts. >> passengers in frankfurt got drinking water and chocolate bars to help them through the long wait. a 500 arrivals and departures were cancelled....
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Jan 4, 2013
01/13
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so the worst, in my opinion, is over for the euro. the euro has come down quite a bit over the last couple of days. but i think that here around 1:30, we are seeing value point in the euro. this year we will probably see a little bit of recovery in the global economy. so i think by the end of this year we will see the euro dollar between the 133 to 135 region. that's yi think that current levels kind of get long euros. >> you think the fed is not as serious about slowing down qe3s might have been suggested yesterday. >> i think they are having the discussions. i want it rule out the possibility of them ruling out qe3. if that happens, it won't be until we see a stronger u.s. recovery. at that point, i think you will see improvements in the eurozone which will help the euro. so at the enend of the day, i think the federal may have qe2, but it may come a at time when it is more after risk on move that drives euros rather than u.s. policy. >> thank you as wuls for joininging us on cnbc, kathy lien. at scottrade, you won't just find us on
so the worst, in my opinion, is over for the euro. the euro has come down quite a bit over the last couple of days. but i think that here around 1:30, we are seeing value point in the euro. this year we will probably see a little bit of recovery in the global economy. so i think by the end of this year we will see the euro dollar between the 133 to 135 region. that's yi think that current levels kind of get long euros. >> you think the fed is not as serious about slowing down qe3s might...
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Jan 28, 2013
01/13
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and i think at some point in time you've got to get the euro down to the dollar, to a weaker euro, mainly to help for exports and to help spur growth, which is exactly what new prime minister is trying to do in japan. and i think one of things i want to mention that he is very i think is going to push and i think is very correct is trade within asia. and he's got to opportunities. what has been there on the table for a while and is clouded by territorial disputes, which would be japan, korea and china. and i think that it's very important that this go ahead with the second and third largest economies and the 10th largest economy in korea in the world. and he has said he really wants to move ahead on the. so i really hope so but, of course, it's clouded by these territorial disputes. the other is something, and trade as was mentioned as a subject that terry mcgraw has shown tremendous leadership and over the last decade. and we now have something new on the table, not so new was announced almost two years ago, which is the trans-pacific partnership. and i think japan should be part of that
and i think at some point in time you've got to get the euro down to the dollar, to a weaker euro, mainly to help for exports and to help spur growth, which is exactly what new prime minister is trying to do in japan. and i think one of things i want to mention that he is very i think is going to push and i think is very correct is trade within asia. and he's got to opportunities. what has been there on the table for a while and is clouded by territorial disputes, which would be japan, korea...
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Jan 25, 2013
01/13
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euro/dollar is about 1% higher on the back of that news. the ifo institute, current conditions, 108. headline index, 104.2 versus 103. ross, what do you make of it? >> well, you can see what's going on with the euro there, 134. let's get more from finland. good to see you, alex. thanks indeed for joining us. the defense here that we're no longer in crisis fighting mode, the question as we look at data in germany, the question is whether we've made a fundamental turn, a fundamental change and whether things are temporary. >> i certainly hope we've made a fundamental turn. if this crisis is 100 steps, i'd say we are about 60 steps down the road. now, really, we have the fundamental institutional things in place. so that has calmed down the markets. what we now need is political stability. i think the italian election is one thing and the second thing we need in europe more than anything else is -- >> yeah. we thought stabilizing the crisis in terms of the bond spreads playing out was hard. getting growth into europe looks to be an almost impo
euro/dollar is about 1% higher on the back of that news. the ifo institute, current conditions, 108. headline index, 104.2 versus 103. ross, what do you make of it? >> well, you can see what's going on with the euro there, 134. let's get more from finland. good to see you, alex. thanks indeed for joining us. the defense here that we're no longer in crisis fighting mode, the question as we look at data in germany, the question is whether we've made a fundamental turn, a fundamental change...
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Jan 27, 2013
01/13
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CSPAN2
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and i think there will be a euro. the question is what it'll look like and what the membership will be. because, you know, originally there was a big school of thought saying that the euro just should have been the northern tier of the membership. it shouldn't have taken in the so-called southern tier countries that have problems. and the next year or two, i think, are really key. and this idea of complacency, and i've had some talks -- actually, he was good enough to buy my book last year and read it, and we've discussed it. i was with him a month ago, and i think he's one of the more thoughtful people in the bureaucracy in brussels. and i think that when he starts talking about complacency, and i should say younger came out, also, and talked about his concern on the value of the euro vis-a-vis the dollar. my point on exports. so i think we're very far from where a lot of members of the marketplace are that, you know, the worst is over for europe, don't worry, it's just a matter of time. >> [inaudible] >> did everyon
and i think there will be a euro. the question is what it'll look like and what the membership will be. because, you know, originally there was a big school of thought saying that the euro just should have been the northern tier of the membership. it shouldn't have taken in the so-called southern tier countries that have problems. and the next year or two, i think, are really key. and this idea of complacency, and i've had some talks -- actually, he was good enough to buy my book last year and...
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Jan 10, 2013
01/13
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CNBC
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david, how is the euro? >> last year we had euro/dollar going to 1.35. it ended around 1.32. but this year we have a pretty boring forecast, 1.35. we don't see the -- lasting in euro/dollar. more on sterling, more on the yen. i think we're moving away from the fixation about euro/dollar. and it seems strange that everything is saying that the ecb or european politicians aren't able to do anything. and so i think we'll have to watch europe very carefully. but i think the break-up risk is coming out of the market. >> yeah. it appears to be the case. and we have something to watch today in spain, as well. it's the first bond auction of the year for the al beeran company. the treasury is slashing the debt market up to 5 billion euros since 2013. lloyd's expects a positive results with the first take up. it will be the first issue to feature a collective action clause, designed to make it easier for the government to restructure debt in the case of future crisis. and president obama is expected to make the final touches to his second term economic team today. cnbc's john harwood h
david, how is the euro? >> last year we had euro/dollar going to 1.35. it ended around 1.32. but this year we have a pretty boring forecast, 1.35. we don't see the -- lasting in euro/dollar. more on sterling, more on the yen. i think we're moving away from the fixation about euro/dollar. and it seems strange that everything is saying that the ecb or european politicians aren't able to do anything. and so i think we'll have to watch europe very carefully. but i think the break-up risk is...
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Jan 18, 2013
01/13
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KCSMMHZ
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to 12 billion euros. the reasons -- poor planning and construction errors. in addition, the company faces corruption allegations in kazakhstan. in germany, the company had to pay a 103-million-you're a fine in a price-fixing scandal. a real operator is considering a lawsuit. -- the company had to pay a 103- million-euro fine. as negotiations with deutsche bank continue, there still a lot of work to do to get things back on track. >> a real-life tragedy has taken center stage at russia's prestigious bolshoi ballet. the director was the victim of an acid attack outside his home late on thursday. >> the 42-year-old suffered serious injury to his face, and doctors are fighting to save his eyesight. the head of the bolshoi theater says he believes the attack was a product of a and b -- of envy. it highlights a long history of power struggles at the ballet. >> this is the only lead. in the cover of darkness, a masked assailant attacked and escaped. >> if thing like this has never happened before, so we at the m
to 12 billion euros. the reasons -- poor planning and construction errors. in addition, the company faces corruption allegations in kazakhstan. in germany, the company had to pay a 103-million-you're a fine in a price-fixing scandal. a real operator is considering a lawsuit. -- the company had to pay a 103- million-euro fine. as negotiations with deutsche bank continue, there still a lot of work to do to get things back on track. >> a real-life tragedy has taken center stage at russia's...
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Jan 7, 2013
01/13
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LINKTV
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over one billion euros more could be needed for the project. it was one disaster to many for klaus wowereit. after a crisis meeting, the mayor of berlin resigned from his post. he has come to represent the continued failure of a project which has been delayed yet again. wowereit not give any information about when the airport will finally be open for business. >> a new deadline cannot be given at the moment, as we have made clear. it will be considered by the supervisory board. work on that will be continued as before, but further steps need to be taken before a new deadline can be given. >> the board has reportedly known about the delay for weeks. wowereit's opponents are not happy about that. some say it is time for him to go. >> at this point, it must be said that klaus wowereit is no longer fit for the job, especially if it is true that he left the public in the dark for weeks, leading as a -- leaving us a disaster that will cost hundreds of billions of euros or more. >> beyond 2014, there is little indication when the new hub might open it
over one billion euros more could be needed for the project. it was one disaster to many for klaus wowereit. after a crisis meeting, the mayor of berlin resigned from his post. he has come to represent the continued failure of a project which has been delayed yet again. wowereit not give any information about when the airport will finally be open for business. >> a new deadline cannot be given at the moment, as we have made clear. it will be considered by the supervisory board. work on...
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Jan 31, 2013
01/13
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KCSM
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the euro stoxx 50 down by just a little bit more. across the atlantic on wall street at this hour, the dow pretty much trading flat. the euro up against the greenback at a value of $1.3568. >> just days after toyota regained its spot as the world's no. 1 carmaker, it has announced recalls affecting more than 1 million cars around the world. >> one recall limbaugh's career role of -- one recall involves carolla models. there are also lexus models with windshield wipers that failed to function in heavy snow. he recalls come after a series of quality problems that have damaged toyota's reputation for quality. amazon shares opened sharply higher on the back of better than expected earnings on the end of your business. >> holiday sales grew 22% to just over $21 billion. it was mainly down to a major boost in the ebook sector. jeff bezos said revenue from kindle sales was up 17% in 2012. >> the euro has formally rejected a bid from ups to take over its dutch giant. >> the eu antitrust authorities said the deal would have stifled competitio
the euro stoxx 50 down by just a little bit more. across the atlantic on wall street at this hour, the dow pretty much trading flat. the euro up against the greenback at a value of $1.3568. >> just days after toyota regained its spot as the world's no. 1 carmaker, it has announced recalls affecting more than 1 million cars around the world. >> one recall limbaugh's career role of -- one recall involves carolla models. there are also lexus models with windshield wipers that failed to...
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behind the prime minister says his next election campaign will be a euro skeptic. film star gerard depardieu is now officially a russian citizen after tax drove him out of his own country. the f.b.i. is accused of failing to one american occupy activists that there was a plot against lives despite plans to assassinate u.s. citizens our top stories this hour. around the world online on satellite this is the with you twenty four hours a day live from moscow we're getting news just in that international journalists have come under crossfire in syria while covering the army's operations in the damascus suburbs a correspondent of our big sister channel suffered light injuries while trying to escape rounds of gunfire this is news just in and we'll bring you more details and an interview with him later this hour here on our team. britain's part in the european union could be coming to a close with people increasingly feeling that the be better off without brussels in an attempt to stay in touch with the mood of the people prime minister david cameron has promised to go in
behind the prime minister says his next election campaign will be a euro skeptic. film star gerard depardieu is now officially a russian citizen after tax drove him out of his own country. the f.b.i. is accused of failing to one american occupy activists that there was a plot against lives despite plans to assassinate u.s. citizens our top stories this hour. around the world online on satellite this is the with you twenty four hours a day live from moscow we're getting news just in that...
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Jan 25, 2013
01/13
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FBC
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the euro is rallying against the dollar. it is steady eddie off the european central bank, said banks will pay back about $184 billion in three-year emergency loans. that's more than the analysts expected by the way. so will the euro be the rock star currency of 2013? joining me now is axel merk, chief investment officer of merk investments. before we get the currency, axle, we talked about a major amount of money in the u.s., 100 billion in the first week of this year. it is a bit of a mystery, but you have a theory. >> just tweeted the explanation if you want to look that up. basically one. crisis measures is expiring fdic gave unlimited insurance to any noninterest bearing accounts. that guaranty is gone now. so people are taking their money elsewhere. as simple as that. there is no big mystery behind it. ashley: no big mystery. >> talking about a hundreds of billions here and talking about the euro, as you mentioned, almost $200 billion euros being paid back. that is the equivalent of mopping up liquidity. in the u.s. we
the euro is rallying against the dollar. it is steady eddie off the european central bank, said banks will pay back about $184 billion in three-year emergency loans. that's more than the analysts expected by the way. so will the euro be the rock star currency of 2013? joining me now is axel merk, chief investment officer of merk investments. before we get the currency, axle, we talked about a major amount of money in the u.s., 100 billion in the first week of this year. it is a bit of a...
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Jan 9, 2013
01/13
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CNBC
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, the correlation between the euro and the s&p kind of weakened to the favor of the euro. and if the thing that i mentioned this year will happen, which is basically, you know, the gdp growth in greece may come back up, i think that will be good for the u.s. >> boris, response briefly. >> yeah, but you know, we can play the same game on the euro side where we -- we heard that story over and over again. what we have, moderation of periphery yields, euro rallies, then again we have another flare-up of the crisis. so my question is, will the spanish be able to refinance all of their debt? will italians be able to finance their debt? i think a lot of the positive compression of periphery yields is in the euro. now i agree, i don't think the dollar is going to have a massive rally against the euro unless there's a major source of friction in the eurozone as we go forward. i think a lot of the benefit that the euro has seen has already baked into the cake. i agree with you that in a sense, yes, dollar could rally more against the yen than against the euro, but nevertheless could
, the correlation between the euro and the s&p kind of weakened to the favor of the euro. and if the thing that i mentioned this year will happen, which is basically, you know, the gdp growth in greece may come back up, i think that will be good for the u.s. >> boris, response briefly. >> yeah, but you know, we can play the same game on the euro side where we -- we heard that story over and over again. what we have, moderation of periphery yields, euro rallies, then again we...
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Jan 10, 2013
01/13
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LINKTV
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the euro stoxx 50 managing to finish the day with very slight gains. across the atlantic at this hour, the dow doing pretty good, up by more than 1/3 of 1%. the euro also higher against the greenback, trading at this hour at a value of $1.3260. the global economic slowdown and the eurozone debt crisis have, of course, affected the auto sector. europe has seen an overall drop in the sale of cars. >> but not in all categories. german luxury brands are still doing well. bmw has released figures showing healthy profits in 2012. then the bmw is overtaking them all. almost everywhere in the world. the munich-based carmaker reported healthy sales last year, not just in china and the united states but also in europe. worldwide, some 1.5 million cars were purchased in 2012, an increase of almost 12% and a new record. vw subsidiary audi also scored a record, selling 1.4 million high-and cars and posting similar gains. mercedes sales hit a record high as well with 1.3 million cars sold around the world, up almost 5% on the previous year. mercedes, however, finds
the euro stoxx 50 managing to finish the day with very slight gains. across the atlantic at this hour, the dow doing pretty good, up by more than 1/3 of 1%. the euro also higher against the greenback, trading at this hour at a value of $1.3260. the global economic slowdown and the eurozone debt crisis have, of course, affected the auto sector. europe has seen an overall drop in the sale of cars. >> but not in all categories. german luxury brands are still doing well. bmw has released...
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Jan 11, 2013
01/13
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LINKTV
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the euro stoxx 50 managing to finish the day with very slight gains. across the atlantic at this hour, the dow doing pretty good, up by more than 1/3 of 1%. the euro also higher against the greenback, trading at this hour at a value of $1.3260. the global economic slowdown and the eurozone debt crisis have, of course, affected the auto sector. europe has seen an overall drop in the sale of cars. >> but not in all categories. german luxury brands are still doing well. bmw has released figures showing healthy profits in 2012. then the bmw is overtaking them all. almost everywhere in the world. the munich-based carmaker reported healthy sales last year, not just in china and the united states but also in europe. worldwide, some 1.5 million cars were purchased in 2012, an increase of almost 12% and a new record. vw subsidiary audi also scored a record, selling 1.4 million high-and cars and posting similar gains. mercedes sales hit a record high as well with 1.3 million cars sold around the world, up almost 5% on the previous year. mercedes, however, finds
the euro stoxx 50 managing to finish the day with very slight gains. across the atlantic at this hour, the dow doing pretty good, up by more than 1/3 of 1%. the euro also higher against the greenback, trading at this hour at a value of $1.3260. the global economic slowdown and the eurozone debt crisis have, of course, affected the auto sector. europe has seen an overall drop in the sale of cars. >> but not in all categories. german luxury brands are still doing well. bmw has released...
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Jan 8, 2013
01/13
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KCSM
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over one billion euros more could be needed for the project. it was one disaster to many for klaus wowereit. after a crisis meeting, the mayor of berlin resigned from his post. he has come to represent the continued failure of a project which has been delayed yet again. wowereit not give any information about when the airport will finally be open for business. >> a new deadline cannot be given at the moment, as we have made clear. it will be considered by the supervisory board. work on that will be continued as before, but further steps need to be taken before a new deadline can be given. >> the board has reportedly known about the delay for weeks. wowereit's opponents are not happy about that. some say it is time for him to go. >> at this point, it must be said that klaus wowereit is no longer fit for the job, especially if it is true that he left the public in the dark for weeks, leading as a -- leaving us a disaster that will cost hundreds of billions of euros or more. >> beyond 2014, there is little indication when the new hub might open it
over one billion euros more could be needed for the project. it was one disaster to many for klaus wowereit. after a crisis meeting, the mayor of berlin resigned from his post. he has come to represent the continued failure of a project which has been delayed yet again. wowereit not give any information about when the airport will finally be open for business. >> a new deadline cannot be given at the moment, as we have made clear. it will be considered by the supervisory board. work on...
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Jan 22, 2013
01/13
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KCSM
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euro stocks similar gain finished at 2726. the euro basically steady at 133.16 against the dollar. well, while equities across europe were heading north, it was completely different from business travelers and tourists. they were not going anywhere at all. heavy snow has affected flights in europe. >> that is where our coverage starts. >> passengers in frankfurt got drinking water and chocolate bars to help them through the long wait. a 500 arrivals and departures were cancelled. the airport remains in the grip of the snowy, icy weather and many might not get out for another day. >> we have been stuck here since yesterday afternoon. first two hours on the plane. then the flight was cancelled bausts bad weather. >> more than a thousand employees spent monday freeing up the four main runways. now that planes can move again it is a matter of clearing the backlog of stranded planes as fast as possible so that there is space for new arrivals to land. >> we are hoping for a let up in the snowfall as monday progresses so that we can better deal with the air traffic and normalize the situa
euro stocks similar gain finished at 2726. the euro basically steady at 133.16 against the dollar. well, while equities across europe were heading north, it was completely different from business travelers and tourists. they were not going anywhere at all. heavy snow has affected flights in europe. >> that is where our coverage starts. >> passengers in frankfurt got drinking water and chocolate bars to help them through the long wait. a 500 arrivals and departures were cancelled....
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zone as long as it has this is this was this an in favor of the euro the euro zone at all costs that is where european powers especially germany begin to you try it out at all costs you talk about all costs yes to austerity see if we know it was scary but yes to the eurozone at all costs the course we've been seeing for over a year if not two years now as you said a manifestation perhaps being shown of the entire eurozone problem but so. being set in the example in greece how much longer can the people there continue under those conditions and i think we're beyond the limit. of how a society can handle this and stare it which and beyond the compared to the consequences of prolonged were for or like the great depression of the 1930's to be certain mr to press he has never said that and serious i wanted to be europe or costs but he has strongly supported that there might be a solution without the sterett it but within the euro zone i think that is the contradiction of his policy i think that if you had a position that would include at least as an option. the exit from the euro zone the
zone as long as it has this is this was this an in favor of the euro the euro zone at all costs that is where european powers especially germany begin to you try it out at all costs you talk about all costs yes to austerity see if we know it was scary but yes to the eurozone at all costs the course we've been seeing for over a year if not two years now as you said a manifestation perhaps being shown of the entire eurozone problem but so. being set in the example in greece how much longer can...
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Jan 25, 2013
01/13
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KCSM
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euro stoxx 50 also higher. the dow jones industrial average also continuing the positive trend. the euro-dollar also trending positive, trading for $1.3370. >> a lot of optimism, despite all the optimism that seems to be brewing in davos in switzerland. it is a different story in spain, though. things just keep getting worse. unemployment is at its highest level ever recorded. 26% of the work force were registered as out of work in the last quarter of 2012. that's nearly 6 million people. >> the eurozone [applause] fourth largest economy is stuck in recession. the conservative government has pushed ahead with a tough austerity program to lower the country's deficit. critics say those spending cuts are directly to blame for the rise in unemployment. but there's a bit of bright news in the eurozone -- portugal has made an early debut back on the financial market, successfully raising 2.5 billion euros in a debt auction this week. >> the government had to pay only 4.9% in interest, signaling investors are more confident about the country's finances. portugal was forced to accept an
euro stoxx 50 also higher. the dow jones industrial average also continuing the positive trend. the euro-dollar also trending positive, trading for $1.3370. >> a lot of optimism, despite all the optimism that seems to be brewing in davos in switzerland. it is a different story in spain, though. things just keep getting worse. unemployment is at its highest level ever recorded. 26% of the work force were registered as out of work in the last quarter of 2012. that's nearly 6 million people....
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living quarters for a large family in a bunker being sold up to two million euros. to meet the demand real estate projects like these are sprouting up all over the united states. just a. always building skyscrapers but today in the middle of the kansas plains in a spot he means to keep secret this businessman has decided to devote his time to a project would be of the pharaoh's. heights sixty meters deep this was formerly a launching ramp for nuclear missiles. larry bought it for next to nothing. about it level seven here you were never in a residential area living force at the surface in the ring beam that goes around this facility. twenty feet to post. a concrete sarcophagus designed to resist nuclear attack. behind these three metre thick walls larry is going to build a totally self-sufficient complex. you're standing in what will be the hydroponics in the culture we're going to have stated the organic food in vegetables and fish when supplies will have at least five years of food for every person that's in here that's in addition to whatever we grow and produce
living quarters for a large family in a bunker being sold up to two million euros. to meet the demand real estate projects like these are sprouting up all over the united states. just a. always building skyscrapers but today in the middle of the kansas plains in a spot he means to keep secret this businessman has decided to devote his time to a project would be of the pharaoh's. heights sixty meters deep this was formerly a launching ramp for nuclear missiles. larry bought it for next to...